{"id":15635,"date":"2024-03-17T15:00:04","date_gmt":"2024-03-17T15:00:04","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15635"},"modified":"2024-03-17T13:59:00","modified_gmt":"2024-03-17T13:59:00","slug":"bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/","title":{"rendered":"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge"},"content":{"rendered":"

Bitcoin traders are closely monitoring the $60,000 support level as a significant futures gap emerges, signaling potential price movements.<\/strong><\/p>\n

Despite Bitcoin experiencing its lowest levels since March 6 in a sharp weekend sell-off, bullish sentiment remains strong among investors.<\/p>\n

On March 17, Bitcoin<\/a> edged closer to the $60,000 mark amid sustained selling pressure over the weekend. Data from TradingView indicated that BTC reached new lows of $64,522 on Bitstamp.<\/p>\n

Following a week of reaching new all-time highs, Bitcoin faced considerable downward pressure, resulting in a series of lower lows and failed rebound attempts.<\/p>\n

\"\"<\/p>\n

Analysts, including popular trader Skew, identified key support zones for buyers on major exchanges, primarily ranging between $60,000 and $64,000.<\/p>\n

Skew noted that most of the selling pressure was driven by market selling, but some entities were engaging in large-scale dollar cost averaging (DCA) at the lows, contributing to short-term price rebounds.<\/p>\n

The recent correction in Bitcoin’s bull market amounted to approximately 12%, a relatively modest pullback compared to previous cycles while maintaining the broader uptrend.<\/p>\n

Despite the bearish sentiment, optimistic market observers pointed to ongoing buying activity from United States spot Bitcoin exchange-traded funds (ETFs), expected to resume on March 18. This activity led some to speculate that the current market conditions could be a bear trap.<\/p>\n

\"\"
\nMeanwhile, with more than 12 hours left until the weekly close, others are eyeing the potential for an early-week rebound. The widening gap in CME Group’s Bitcoin futures market, which closed on March 15 at $69,135, could provide an impetus for relief, as historically observed.<\/p>\n

The gap between CME futures and spot price presents an opportunity for price convergence, potentially driving upward momentum in Bitcoin’s price.<\/p>\n

In the comment section, you can freely share your comments about the topic. Additionally, don\u2019 t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin traders are closely monitoring the $60,000 support level as a significant futures gap emerges, signaling potential price movements. Despite Bitcoin experiencing its lowest levels since March 6 in a sharp weekend sell-off, bullish sentiment remains strong among investors. On March 17, Bitcoin edged closer to the $60,000 mark amid sustained selling pressure over the<\/p>\n","protected":false},"author":1,"featured_media":13759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1766],"class_list":["post-15635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-btc"],"yoast_head":"\nBitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-17T15:00:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-17T13:59:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/\",\"name\":\"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp\",\"datePublished\":\"2024-03-17T15:00:04+00:00\",\"dateModified\":\"2024-03-17T13:59:00+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\"},\"description\":\"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp\",\"width\":768,\"height\":432,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/coinengineer.net\/\"],\"url\":\"https:\/\/coinengineer.net\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer","description":"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer","og_description":"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.","og_url":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/","og_site_name":"Coin Engineer","article_published_time":"2024-03-17T15:00:04+00:00","article_modified_time":"2024-03-17T13:59:00+00:00","og_image":[{"width":768,"height":432,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp","type":"image\/webp"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/","url":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/","name":"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp","datePublished":"2024-03-17T15:00:04+00:00","dateModified":"2024-03-17T13:59:00+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2"},"description":"Bitcoin (BTC) is facing a test of its resilience after a weekend sell-off sent prices tumbling to their lowest point since early March.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/Bitcoin-4.webp","width":768,"height":432,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-stay-in-the-ring-despite-weekend-price-plunge\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Bulls Stay in the Ring Despite Weekend Price Plunge"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/coinengineer.net\/"],"url":"https:\/\/coinengineer.net\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/15635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=15635"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/15635\/revisions"}],"predecessor-version":[{"id":15639,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/15635\/revisions\/15639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/13759"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=15635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=15635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=15635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}